The Brookhaven leader., 1887-05-12
Charter OF Incorporation OF
the keystone Lumber 0nd
I'm DrOcenl ent CO1,iDu1,U.


improvement Company.
SECTION !. Geo. ). Lacey, Butler Nc
Clanhan, Geo. b. Levy, X. >. COt;ingcn.
NJ. +. Osborn and Anthony jeanette and
all other persons who may hereafter be-
come associated with them and their sue
cessorS and assigns, are hereby created a
body polite aud corporate under the
name aud style of the Keystone Lumber
and Improvement Company; and by that
name shall have perpetual Succession iOI
the purpose of manufacturing lumber
and converting lumber into any aud all
articles of merchandise, and for buy ing,
owning and holding such real and person
al property as may be necessary in con-
ncctlon with or advantageous To, the oh
jects and purposes of this charter; and
may sue and be sued, plead and be i'm
pleaded III all courts of law and equity,
and may have and Use corporate seal
with the right TO change the same 1T
pleasure.
See. .. The capital stock of SAID com
pany shall be one hundred thousand dol
lars, bnt the same may be- increased 10y IA
majority vote of the stockholders 10 Il
sum not to exceed two hundred thousand
dollars. This capital stock shall be di-
|
each and each shall cntitlc the owner
thereof 10 one vote at all meetings of the
stockholders. a majority OF tho entire
stock issued shall constitute a quorum for
the transaction of business.
No stakeholder shall be liable iudi idu-
ally tor any debt or liability of said cor
VoratiOn beyond tho amount remaining
unpaid on stock subscribed or purchased
hN HIM; and payment to said corporation
til to amy person under judicial process.
OF the full amount at par of the stock
subscribed or purchased, shall exempt
such stakeholder from all debts and liza
bllitIes of said com ,anv.
Sec. 3. As soon as twenty-five thou
sand dollars shall have been subscribed TO
the capital stock of the company, the
stockholders may organize aud be- in the
proposed business. The principal office
of SAID company shall he in or near the
town of Bogne Chittu, with such branch
offices TO be located when and where said
company may deem convenient.
Sec. 4. SAID company shall have power to IN
auguiaIe and carry on at or near the said town
of BORue Ghltt0 business for the manufacture
OF lumber into any and all articles OF mer-
chAudise into which the same is convertioie {, aud
hav- the power TO purchase, acquire and hold
without limit all kludS of property, whether
real, personal or mixed. and may sell, mot
gage, euCu inner OF OJntrWlSe transfer the same
at VIII, and generally do all things That may be
beneficial, Or advantageous TO the Interests of
said company. Ii may also make and execute
notes. drafts and bills OF exchange aud may re
CeIvR aud dispose of the same IN The cOurs: of
It's business. Ii may take deeds In trust, mort
cages evidences of deUt aud ali MANNER OF Sc
curlty for money due said company, and NAV
buy or dispose OF real Ur personal property
whenever II Is To the Interest OF SAIL company
to do SO.
Sec. 3. Said company shall have the power to
erect, wherever CouVeu' ent, hUIdnps, saw
mills, blaming mills and such machlneIy as the
proposed business NAV require, To construct
and operate ways or Dads OF iron, wood or steel
over which to carry aud transport by the power
OF steam, animals or mechanical CUutrlVanCes
any and all property for the convenience AMI
beneLt OF sad business.
Sec. i. The officers Of said company shall
comprise President, F.ce-Presiuent, <eCreta-
~ and Treasurer, hose terms Of Office shall be
one year from the day of their election; hut they
shall continue III office until their successors are
elected and nave Qualified. The stockholders
however, have the power to remove any officer
for good ca sc, befOrethe expiration of his
term, aud they may, II they so wish, elect one
person To NIL two offices Th4 salary If the
officers shall be liked by the northumberland
may be Incl eased or red uced at pleasure
Sec. I. Tie President, Vice +, eSdent aud
secretary shall constitute board OF directors
with power to regulate and conlro the business
of the company, nut only tor The time they hold
their respective offices. The Stockholders may,
however, II they so desire. establish Board OF
direCi ors to be composed of three such members
as they may select Ia lieu of tue board compOs-
ed of said officers. The board OF directors and
its SUCCESSORS shall be vested with all sucn pow
ers and ChaI ged with all such duties as NATURAL
ly and hece osarlly pertain 10 The managing and
uIrt cting of the business affairs OF the comp4-
ny and snail have power To enact and adopt Sucu
bylaws, rules and regulations regarding the
cone uctng and controlling of said business AS
may be required; and may alter aud amend the
same at pleasure; Provided, ~ by law. rule or
regulation shall he III condct with the JOnstltu-
/ tInu md Ia ( tat
OF MISSISSIPPI.
Sec S. Ii shall be the duty OF The President OF
said company TO sign all drafts. checks, ullls OF
eX ;hange, notes, deeds IN trust, mortgages anu
veyances, to preside at all meetings OF the
stockholders aud board of directors ami IL call
special meetings OF these bodies when advised
Of the Necessity of the same.
Sec. Q. In the eveut of the absence, resigna-
ton or removal OF the President, the Vlce
President shall assume and discharge tue duties
of the former, also the duties hereinafter named.
Sec. 10. The Secretary shall conduct all cor
respondence. ke, p a record Of the proceedings
! of the stockholders and board OF uiI eCtOrs aud
! perform such duties AS the stockholders or
board OF directors at thtir meetings may order.
| See. IL. The Treasurer shall DO the custodian
! Of all m0neys or evidences of debt belonging to
said company, receiving and discussing the
| same subject to the Will of tIa board of direc-
| tors
Sec. ls. The Vice President shall be ex-oticlt
| General Manager or the company. The dutle;
! of the General Manager OF his successor shall be
! TO operate the mil and machinery, superinLent
| the pracLlcal workings of the eHtirs business
make ali purchases required there for, sell thu
manufactured products, keep all accounts. cor
respondence and records appertaning TO the af
fairs OF his office, and perform such other du
ties rs the board may at any time Order Hk
term of Office, his salary and his work shall ei
subject TO the rules Of the board OF directors Z
whom he shall be directly respon, ible for Z ii
account of his services.
Sec 10. Any vacancy that may occur by death
| resignation or removal of any officer or menOe
Of the board of directors, NAV be filled by Sal(
hoard until the next meeting OF the stockhold
era.
zee. IL The stockhniler5 aud board of dTec
tors may each dete rmine the time Tor their reg
ular meeting. special meetings may be calle,
whenever the President is advised OF the neces
sity of the same. A majority of the board shat
he quorum tor the transaction of business.
Sec. 10. Dividends shall be declared by IN
hnRIn of directors The end of y..ar l,r Ia